Cambodian casino group NagaCorp suspends Russian resort project

NagaCorp

04/03/2022 02:10

HONG KONG, March 4 (Reuters) - Cambodian hotel and casino
complex operator NagaCorp Ltd  3918.HK  said it would suspend
its gaming and resort development project in the eastern Russian
city of Vladivostok indefinitely amid "uncertainties"
surrounding the project. 
    "The company would like to suspend the development of the
project indefinitely until the circumstance is clearer," the
Phnom Penh-based company said in a filing to the Hong Kong
bourse late on Thursday. It gave no further details.
    NagaCorp shares fell as much as 5.5% to HK$6.41 early on
Friday, their lowest since Feb. 4. That compared with a 2.6%
drop in the benchmark Hang Seng Index  .HSI .
    Western governments are shutting off Russia's economy from
the global financial system after its invasion of Ukraine,
pushing international companies to halt sales, cut ties and dump
investments worth tens of billions of dollars.
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 (Reporting by Donny Kwok
Editing by Robert Birsel)
 ((donny.kwok@thomsonreuters.com; +852 3462 7745;))